The early signs of economic recovery can be seen. The latest signal in this direction has been the rise of India's goods and services tax (GST) collection. It witnessed a rise of 4 per cent on September compared to the same period last year.
While the GST collection in the month of September 2019 was Rs 91,917 crore, in the same period in 2020 it was Rs 95,480 crore.
The GST revenue coming from the state of Maharashtra is still the highest at Rs 13, 546 crore compared to other states. However, in terms of percentage growth in the month of September this year, the GST collection of the state was zero per cent compared to the same period last year, as per the ministry data. This is because in September last year the GST collection in Maharashtra was around Rs 13, 579 crore.
Meanwhile, states like Tamil Nadu, Gujarat, Karnataka and Uttar Pradesh reported a GST collection of Rs 6,454 crore, Rs 6,090 crore, Rs 6,060 crore and Rs 5,075 crore respectively for the month of September. However, in terms of percentage growth, Tamil Nadu and Gujarat grew by 15 per cent and 6 per cent respectively, whereas Karnataka reported negative growth of 5 per cent.
In the case of Uttar Pradesh, the percentage growth in September 2020 compared to September 2019 was zero per cent. In September 2019, the state reported a GST collection of Rs 5,073 crore.
This shows that Maharashtra and Uttar Pradesh reported a zero per cent growth in September 2020 compared to same period last year. In the case of GST, this is a commonality between both states this time and that is zero per cent GST growth. Yet another region that reported zero per cent growth in GST was Ladakh.
In terms of percentage growth, Dadra and Nagar Haveli grew by 79 per cent, whereas Daman and Diu reported degrowth of 83 per cent.
Meanwhile, central GST collection stood at Rs 17,741 crore, state GST is Rs 23,131 crore and integrated GST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods).
